Critical Success Factors for Knowledge Management Practice in Organisations in the Knowledge Economy:- A.D. AGBO

ABSTRACT

Introduction The world has witnessed increased interdependence in the last two decades. This is the direct result of a combination of political and economic policies and processes commonly referred to as globalization. The driving forces of these policies and processes include interplay of knowledge, technology and competition. A major outcome this dynamics is the recognition of the role of knowledge in economic growth. Knowledge as embodied in human beings (i.e. 'human capital') and in technology has always been central to development and value creation. However, it is only in the last but only in last few years has its relative importance been recognised. Tangible evidences suggest that knowledge is capable of helping nations to achieve developmental goals. Wealth creation through application of human knowledge and creativity is steadily outspacing wealth creation through extraction and processing of natural resources. In recent times scholars have come to referto this interaction of knowledge and economics as 'knowledge economy